HSBC launches banking by mobile phone service
By Nic Fildes
Published: 04 October 2006

HSBC is launching a service today that enables its customers to perform banking functions over a mobile phone.

The UK's largest bank is the latest company to try its hand at establishing a mobile payments service, but hopes a pragmatic approach to "m-commerce" will prove more successful than previous attempts to crack the market.

Customers of HSBC, and its subsidiary first direct, will be able to check bank balances, view statements and to top-up mobile phone accounts using the service.

Despite the strong take-up of internet banking, most consumers have proved hesitant to use their phones to buy anything more than a ring-tone for the phone or a short video clip in Europe. This is despite the rapid take-up of m-commerce in countries such as Japan and Korea.

Companies such as NTT DoCoMo have harnessed the ubiquity of the mobile phone for an increasing number of transactions.

Full Article on Independent.co.uk